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This article was published on October 21, 2010

Nokia posts profit but slashes workforce

Nokia posts profit but slashes workforce
Martin Bryant
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Martin Bryant

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Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-qualit Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-quality, compelling content for them. He previously served in several roles at TNW, including Editor-in-Chief. He left the company in April 2016 for pastures new.

Nokia, the troubled giant of the mobile world, has posted a profit today in its Q3 financial results. However, it’s not all good news as incoming CEO Stephen Elop has begun to make his mark by cutting the company’s workforce.

The €529 million profit is a stark contrast to a €559 loss for the same period last year. The company shipped a total of 110.4 handsets, 26.5 million of them being smartphones.

However, 1800 jobs (around 1.5% of its 128,000 strong workforce) are to go at the firm as it looks to streamline its complex development chain. These measures will also see Nokia focus solely on the Qt development framework, which allows developers to create apps once and run them across both Symbian and MeeGo devices.

Nokia is expected unveil the latest news about its MeeGo OS platform next month at an event in Dublin.